BusinessEconomy

MINING COMPANIES PRODDED TO WORK HARDER

By ROGERS KALERO

MINING Companies on the Copperbelt must rump up production following the scrapping off of Mineral Royalty Tax (MRT) in the 2022 national budget, Commerce, Trade and Industry Minister Chipoka Mulenga has said

And NFC Africa Mining Chief Executive officer Hu Guobin said the mining firm had set up  investment of more than K1.4 billion aimed at creating employment and contributing to economic development

Mr Mulenga said with the government having withdrawn MRT, it was imperative that mining firms reciprocate by rumping up production which would in turn contribute to job creation and revenue base of the government 

He  was speaking on Thursday when he met management at NFC Africa Mining in Chambishi for a familiarisation tour of it’s operations.

 “The New Dawn Government will not only build the economy of the country through taxation but by setting up businesses that would in the process thrive by creating employment.

“Having said this, I would like to challenge the mining industry on the Copperbelt to take advantage of the removal of the MRT to increase production especially that the copper prices is high. This will greatly contribute to job creation and increased revenue base for the Government to spur economic growth,” Mr Mulenga said.

Mr Mulenga said government will be coming  up with certain taxing systems that would help the mining industry to spur economic growth.

Mr Mulenga said Chambishi in a few years to come would be an economic hub of mineral production because it had potential owing to copper around the district.

“Once Chambishi becomes a mineral hub, it would give more value to the government and create job opportunities for the local people and nation at large. The mining sector still remains a backbone of the Zambian economy and needs to be boosted to remain profitable,” he said.

And NFC Africa Mining Chief Executive Officer Hu Guobin said the mining firm had over the years adhered to the principle of cooperation, mutual benefits and commitment to creating a mine with harmonious development.

Mr Guobin said the mine would continue to uphold the  bilateral cooperation China  shares with the Zambian government to promote localization of supply chain, promote local employment and fulfil social responsibilities.

“As a testimony and commitment to bilateral cooperation that exist between Zambia and China, NFC Africa Mining has set up investment of more than K1.4 billion aimed at creating employment and contributing to economic development,” Mr Guobin said.

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